Canada Pension Plan Investment Board increased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 134.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 622,035 shares of the information technology service provider’s stock after buying an additional 356,578 shares during the period. Canada Pension Plan Investment Board’s holdings in Cognizant Technology Solutions Corporation were worth $41,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 7.3% in the first quarter. Nisa Investment Advisors LLC now owns 261,251 shares of the information technology service provider’s stock worth $15,550,000 after buying an additional 17,835 shares during the last quarter. Bank of The West boosted its position in shares of Cognizant Technology Solutions Corporation by 1.5% in the first quarter. Bank of The West now owns 82,071 shares of the information technology service provider’s stock worth $4,885,000 after buying an additional 1,225 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Cognizant Technology Solutions Corporation by 90.0% in the first quarter. DnB Asset Management AS now owns 2,191,587 shares of the information technology service provider’s stock worth $130,443,000 after buying an additional 1,038,062 shares during the last quarter. Moon Capital Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 109.2% in the first quarter. Moon Capital Management LLC now owns 72,322 shares of the information technology service provider’s stock worth $4,305,000 after buying an additional 37,752 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the first quarter. Beese Fulmer Investment Management Inc. now owns 78,370 shares of the information technology service provider’s stock worth $4,665,000 after buying an additional 197 shares during the last quarter. 89.21% of the stock is owned by institutional investors.

Cognizant Technology Solutions Corporation (CTSH) opened at 70.61 on Friday. The firm has a market capitalization of $41.70 billion, a price-to-earnings ratio of 22.65 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.57. The stock’s 50 day moving average price is $68.68 and its 200 day moving average price is $62.67.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the company earned $0.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.

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A number of research analysts have issued reports on the company. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $78.00 price objective (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday. BMO Capital Markets reissued a “buy” rating and set a $76.00 price objective (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Credit Suisse Group set a $80.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $83.00 in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $70.02.

In other news, COO Srinivasan Veeraraghavachary sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total transaction of $199,485.00. Following the completion of the transaction, the chief operating officer now directly owns 24,737 shares in the company, valued at $1,607,905. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Venkat Krishnaswamy sold 4,205 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $66.75, for a total value of $280,683.75. Following the transaction, the insider now owns 13,540 shares of the company’s stock, valued at $903,795. The disclosure for this sale can be found here. Insiders have sold 77,528 shares of company stock valued at $5,306,449 over the last 90 days. 1.08% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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